The collapse of currencies is not a phenomenon which occurred only in ancient history. There are plenty of modern examples. I'll note a few.
We all remember seeing in our history books pictures of Germans taking wheelbarrows full of Weimar marks to the grocery store to buy a loaf of bread. The Weimar government owed so much in war reparations that they had to run their printing presses full-time to print enough money to pay it off. Germans saved "money" by burning marks in their stoves instead of coal.
Here's how the mark was valued in relation to one USD:
April, 1919: 12 marks
Nov, 1921 263 marks
Jan, 1923 17,000
Aug, 1923 4.621 Million
Oct, 1923 25.26 Billion
In 1932, Argentina had the world's 8th largest economy when its currency collapsed.
In 1994, Mexico's peso crashed.
In 1998, the Russian ruble was severely devalued.
Right now, the currency of Zimbabwe has no value due to hyperinflation (among other things).
Note to Obama, Geithner, and Bernanke: This is Peoria, not Port au Prince!
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